Can you tell me if this is good strategy
reader’s message
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Hello Long,
It seems interesting. But I don’t see much trades on daily time frame.
Can you tell me if this strategy is good ? :
1st daily bar is short (bearish or bullish)
2nd daily bar is short and bearish
3rd daily bar is larger body than the 2 previous, is white and closes > previous bar high
(see attached picture)
then LONG entry.
Stop loss : low of entry bar
then trailing stop : low of each new bar.
2% risk per trade.
Do you think it is logical and profitable on the long run ?
Thank you !
As I’m quite upset with day trading, I really want to learn swing trading with no indicators, just candlesticks : a simple strategy with high winning ratio and sufficient risk / reward…
And with “strongest strategy” I think I haven’t great success…
Best Regards,
——————
click here
https://youtu.be/wt04WpKR7-g
Double Candlestick Patterns
Memorizing double candlestick patterns can be a bit more challenging.
But the trading results can be very rewarding by using them.
As with the single Japanese candlestick patterns, these come in bullish and bearish versions.
The most basic type of dual candlestick formation is the bullish or bearish engulfing pattern.
The engulfing pattern occurs at the end of a market trend.
With the first or setup candle showing signs of exhaustion and the confirmation candle indicating a complete takeover or reversal.
In other words, the confirmation or second candle’s high is higher than that of the setup candle and its low is lower as well.
Another kind of dual candlestick formation is the harami.
In Japanese, this translates to pregnant・
This is an easy way of remembering how the pattern looks like.
It can be considered a reverse of the engulfing pattern.
The confirmation candle has a lower high and a higher low compared to the first candle.
This pattern is also known as an inside day formation.
A variation of this pattern is known as the harami cross, wherein the second candle is a doji that is inside the first candle.
This also has a bullish and bearish version, both of which indicate a potential price reversal.
Next up are the tweezer tops and bottoms.
This kind of double candlestick pattern also occurs on top of an uptrend or at the bottom of a downtrend, signaling a possible price reversal.
The name is given as the double highs of tweezer tops or double lows of tweezer bottoms which should be of equal length.
The first candle of the tweezer top or bottom should be in the direction of the previous trend.
In other words, a tweezer top should have a bullish first candle while a tweezer bottom should have a bearish first candle.
Then the second candle should be the opposite of the previous trend.
This means that a tweezer top should have a bearish second candle while a tweezer bottom have a bullish second candle.
One of the rare double candlestick patterns are the hammer and inverted hammer.
The hammer has a small body with a long lower wick and no upper wick.
The inverted hammer has a small body with a long upper wick and no lower wick.
The bearish hammer is also known as a hanging man while the bearish inverted hammer can also be called a shooting star.
Inside long Candlestick No Trade
